09-26-2024, 10:30 PM
This post was last modified 09-26-2024, 10:32 PM by Maxmars.
Edit Reason: added content
I found this development somewhat noteworthy...
The world of "commercial broadcast radio" has been exponentially crystalized by fewer and fewer owners... this is a snapshot of how that happens...
A radio station "chain" goes into bankruptcy, a billionaire buys the whole lot, and suddenly... the number of owners gets smaller still...
From FoxNews: House Oversight probes FCC's expedited approval of Soros purchase of 200+ radio stations ahead of election
Subtitled: The FCC seemingly approved a deal that would 'fast-track' the left-wing billionaire's acquisition of more than 200 radio stations
I have some concerns about the whole "fast tracking" thing... as it stood the FCC approval process doesn't allow for the 200 radio stations with a reach of millions of people to be 'useful' for political reasons... now that's suddenly no longer a problem... how did that happen?
According to House Oversight Committee Chairman James Comer, R-Ky., and Rep. Nick Langworthy, R-N.Y., the FCC expedited a required review of broadcast licenses by bypassing its standard procedures and processes.
Comer and Langworthy penned a letter to FCC Chair Jessica Rosenworcel requesting documents and communications to understand the FCC’s actions.
Audacy Inc. owns more than 200 radio stations. Soros is attempting to purchase $415 million in debt in a chapter 11 reorganization of the company.
Comer and Langworthy warned that Soros is a financier of organizations "advocating for speech restriction and censorship of conservatives online."
"He will ultimately become a ‘major’ shareholder when the bankruptcy deal concludes," they wrote.
Comer and Langworthy also warned that Soros has "sought to consolidate control over the airwaves."
Bear in mind that ideology is woven into the report framework... there actually might be a reason for the FFC's unusual 'acceleration' of this process... but I'm sure the public will not be "too concerned" at this point... at least that's what most media will report.
Sorry Soros, not a fan of your work... but this just smells bad.
The lawmakers reminded that during a hearing before their committee, FCC Commissioner Brendan Carr noted FCC rules pertaining to foreign ownership of radio stations, and how the FCC, in this case, "is not following its normal process for reviewing a transaction."
"Commissioner Carr further noted that ‘the full commission itself has never signed off on a shortcut like this. What we usually do is we require people to file a petition with us. We bring in national security agencies, they can review the foreign ownership… Here, they’re trying to do something that’s never been done before at the commission level,’" they wrote, adding that Carr "noted that the national security review could take ‘3 to 4 to 5 to 6 months’ saying further that ‘[i]t looks like we got the cart before the horse this time.’"
Comer and Langworthy said that "despite the unprecedented nature of this action, the FCC majority has apparently decided to approve licenses on an accelerated timeframe for a company in which George Soros has a major ownership stake, and with stations in 40 media markets reaching ‘more than 165 million Americans.’"
"By all appearances, the FCC majority isn’t just expediting, but is bypassing an established process to do a favor for George Soros and facilitate his influence over hundreds of radio stations before the November election," they wrote.
The world of "commercial broadcast radio" has been exponentially crystalized by fewer and fewer owners... this is a snapshot of how that happens...
A radio station "chain" goes into bankruptcy, a billionaire buys the whole lot, and suddenly... the number of owners gets smaller still...
From FoxNews: House Oversight probes FCC's expedited approval of Soros purchase of 200+ radio stations ahead of election
Subtitled: The FCC seemingly approved a deal that would 'fast-track' the left-wing billionaire's acquisition of more than 200 radio stations
I have some concerns about the whole "fast tracking" thing... as it stood the FCC approval process doesn't allow for the 200 radio stations with a reach of millions of people to be 'useful' for political reasons... now that's suddenly no longer a problem... how did that happen?
According to House Oversight Committee Chairman James Comer, R-Ky., and Rep. Nick Langworthy, R-N.Y., the FCC expedited a required review of broadcast licenses by bypassing its standard procedures and processes.
Comer and Langworthy penned a letter to FCC Chair Jessica Rosenworcel requesting documents and communications to understand the FCC’s actions.
Audacy Inc. owns more than 200 radio stations. Soros is attempting to purchase $415 million in debt in a chapter 11 reorganization of the company.
Comer and Langworthy warned that Soros is a financier of organizations "advocating for speech restriction and censorship of conservatives online."
"He will ultimately become a ‘major’ shareholder when the bankruptcy deal concludes," they wrote.
Comer and Langworthy also warned that Soros has "sought to consolidate control over the airwaves."
Bear in mind that ideology is woven into the report framework... there actually might be a reason for the FFC's unusual 'acceleration' of this process... but I'm sure the public will not be "too concerned" at this point... at least that's what most media will report.
Sorry Soros, not a fan of your work... but this just smells bad.
The lawmakers reminded that during a hearing before their committee, FCC Commissioner Brendan Carr noted FCC rules pertaining to foreign ownership of radio stations, and how the FCC, in this case, "is not following its normal process for reviewing a transaction."
"Commissioner Carr further noted that ‘the full commission itself has never signed off on a shortcut like this. What we usually do is we require people to file a petition with us. We bring in national security agencies, they can review the foreign ownership… Here, they’re trying to do something that’s never been done before at the commission level,’" they wrote, adding that Carr "noted that the national security review could take ‘3 to 4 to 5 to 6 months’ saying further that ‘[i]t looks like we got the cart before the horse this time.’"
Comer and Langworthy said that "despite the unprecedented nature of this action, the FCC majority has apparently decided to approve licenses on an accelerated timeframe for a company in which George Soros has a major ownership stake, and with stations in 40 media markets reaching ‘more than 165 million Americans.’"
"By all appearances, the FCC majority isn’t just expediting, but is bypassing an established process to do a favor for George Soros and facilitate his influence over hundreds of radio stations before the November election," they wrote.
